Milky Mist Dairy Food Limited, one of the leading Dairy product makers, has received the green signal from market regulator SEBI to raise funds of ₹2,035 crore through an Initial Public Offering (IPO).
This Milky Mist IPO consists of a fresh issue of ₹1,785 crore and an Offer-for-Sale of up to ₹250 crore equity shares by promoters Sathishkumar T and Anitha S.
The company may also plan to raise funds of ₹357 crore in a pre-IPO round. If they successfully plan to do so, then the amount of ₹357 crore will be reduced from the fresh issue.
They are involved in making wide range of dairy products that include cheese, paneer, butter, curd, ghee, yogurt, ice cream, frozen foods, ready-to-eat, and ready-to-cook products as well as chocolates.
Britannia Industries, Dodla Dairy, Hatsun Agro, Nestle India, and Parag Milk Foods are the peer companies of Milky Mist with whom they are competing.
The proceeds of ₹750 crore from the fresh issue will be utilized for repaying/paying the debt taken by the company. Some funds of ₹414.7 crore will be utilized to expand and upgrade the Perundurai manufacturing facility. And funds of ₹129.4 crore will be used towards installing visi coolers, ice cream freezers, and chocolate coolers. Lastly, the remaining funds will be utilized for the company’s general corporate uses. According to the DRHP as of May 31, 2025, the company had a total remaining loan of ₹1,463.59 crore.
As of FY25, the company generated a revenue of ₹2,349.5 crore with generating Profit After Tax (PAT) of ₹46 crore, respectively.
The book running lead managers to the issue of handling the Milky Mist Dairy Food IPO are JM Financial, Axis Capital, and IIFL Capital Services.
Milky Mist Food receiving SEBI approval for its IPO is a big step for the company, which has been built without private equity support. The IPO aims to reduce debt, improve liquidity, and future fund expansion. Going forward, for future growth Milky Mist is planning to grow beyond south India.
Milky Mist Dairy Food IPO Prospectus:
| DRHP Draft Prospectus: | Click Here |
| RHP Draft Prospectus: | To be Updated Soon |
Milky Mist Dairy Food Company Financial Report
Amount ₹ in Crores
| Period Ended | Revenue | Expense | Profit After Tax |
| 2023 | ₹1,398.95 | ₹1,335.48 | ₹27.23 |
| 2024 | ₹1,826.86 | ₹1,784.17 | ₹19.44 |
| 2025 | ₹2,354.79 | ₹2,267.25 | ₹46.07 |
Milky Mist Dairy Food IPO Valuation – FY2025
Milky Mist Dairy Food IPO valuations detail like Earning Per Share (EPS), Price/Earning P/E Ratio, Return on Net Worth (RoNW), and Net Asset Value (NAV) details.
| Earning Per Share (EPS): | ₹0.73 (Basic) |
| Price/Earning P/E Ratio: | N/A |
| Return on Net Worth (RoNW): | 18.98% |
| Net Asset Value (NAV): | ₹3.78 |
Peer Group Comparison
| Company | EPS | PE Ratio | RoNW % | NAV | Income |
| Bikaji Foods International Limited | 8.02 | 91.56 | 14.52% | 55.22 | 2,621.85 Cr. |
| Britannia Industries Limited | 90.45 | 65.05 | 50.02% | 180.83 | 17,942.67 Cr. |
| Dodla Dairy Limited | 43.27 | 32.94 | 18.49% | 234.68 | 3,720.07 Cr. |
| Hatsun Agro Product Limited | 12.51 | 78.48 | 16.23% | 77.11 | 8,699.76 Cr. |
| Nestle India Limited | 33.27 | 72.95 | 79.99% | 41.59 | 20,201.56 Cr. |
| Parag Milk Foods Limited | 9.97 | 24.91 | 11.61% | 85.73 | 3,432.21 Cr. |
| Tata Consumer Products Limited | 13.06 | 84.03 | 6.39% | 205.95 | 17,618.30 Cr. |
Objects of the Issue
- Repayment/ prepayment, in full or in part, of certain outstanding borrowings availed by our Company;
- Financing the capital expenditure requirements in relation to the expansion and modernisation of our Perundurai Manufacturing Facility;
- Deployment of visi coolers, ice cream freezers and chocolate coolers; and
- General corporate purposes
IPO Lead Managers aka Merchant Bankers
- Jm Financial Limited
- Axis Capital Limited
- IIFL Capital Services Limited
